Velas, a Swiss-based tech firm providing one of the fastest and most energy-efficient blockchains in the world, will enter Formula 1 starting next year in a long-term partnership with Ferrari. Zug ...

Ferrari have terminated a Formula One sponsorship deal with Swiss blockchain technology company Velas, the team said on Thursday. The Zug-based company became a partner of the Italian racing team ...

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Velas, a Swiss-based tech firm providing one of the fastest and most energy-efficient blockchains in the world, will enter Formula 1 starting next year in a long-term partnership with Ferrari.

Velas was also title sponsor of Ferrari in the F1 Esports Series. "Unfortunately, the agreement with Velas has been terminated early by us," Ferrari said on Thursday in response to a Reuters query.